Croatia, Liechtenstein sign income tax treaty
The Liechtenstein government has announced the signing of an income tax treaty with Croatia on 22 January 2025. The agreement aims to eliminate double taxation between the two countries. The treaty adheres to standards set by the OECD and
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Belarus suspends tax treaty with Germany
Belarus Ministry of Taxes and Duties, in a notice, confirmed that it has suspended the 2005 tax treaty between Belarus and Germany, effective from 1 January 2025. This follows after Germany’s Federal Government notified Belarus, on 30 December
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Ukraine raises key interest rate to 14.5%
The National Bank of Ukraine has announced, on 23 January 2025, to raise the key policy rate from 13.5% to 14.5%, effective 24 January 2025. This decision is aimed at maintaining the stability of the foreign exchange market, keeping inflation
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Slovenia adopts public CbC reporting
Slovenia has published a decree to implement the EU public country-by-country (CbC) reporting under Directive (EU) 2021/2101 into its domestic legislation on December 2024. Under the decree, public CbC reports must be translated into Slovenian.
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Italy gazettes law introducing new VAT reverse charge for logistics
The Italian Budget Law for 2025 (Law No. 207 of 30 December 2024) was published in the Official Gazette on 31 December 2024 which introduces a new value added tax (VAT) reverse charge mechanism specifically for transport, handling, and logistics
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Slovak Republic drafts bill for DAC9, Pillar Two global minimum amendments implementation
The Slovak Republic’s Ministry of Finance has announced plans to draft an amendment to Law No. 507/2023, enacted on 8 December 2023. This law partially implemented the Pillar Two global minimum tax in alignment with Council Directive (EU)
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Slovak Republic, Kyrgyzstan income tax treaty enters into force
The income tax treaty between Kyrgyzstan and the Slovak Republic is set to take effect on 1 March 2025. This agreement seeks to prevent double taxation and tax evasion. Withholding taxes are applied at rates of 5% on dividends, 10% on interest,
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Slovakia Republic announces new VAT rates for energy supplies
The Slovak Republic’s tax authority has released guidance on new VAT rates for energy supplies, effective from 1 January 2025. Under the guidance, the standard VAT rate will rise from 20% to 23%, and the reduced rate (including electricity)
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Czech Republic, Kenya conclude tax treaty negotiations
Officials from the Czech Republic and Kenya have announced the conclusion of negotiations for a first-ever income tax treaty between the two countries on 22 January 2025. The treaty aims to eliminate double taxation of income and prevent tax
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Luxembourg updates all tax return deadlines
The Luxembourg Administration of Direct Tax has announced that the deadline for submitting all types of tax returns, including individual income tax returns (M100) and corporate income tax returns (M500), has been moved from the first Monday in
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Italy: European Commission approves extension of tonnage tax regime
The European Commission published a decision on 21 January 2025, approving the extension of Italy's tonnage tax regime for maritime transport activities. Initially introduced in December 2004, it has been extended several times since. The regime
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Italy revises loss carryforward rules after control change
Italy has published Legislative Decree No. 192/2024 in the Official Gazette on 13 December 2024, introducing a key amendment in which the regulations on loss limitations have been updated following a reorganisation that leads to a change in
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Denmark proposes lowering gift tax rates, introducing succession measures
Denmark’s Minister of Taxation introduced a bill L 123 to reduce inheritance and gift taxes for family-owned businesses and simplify business transfers on 22 January 2025. The key proposal is a reduction in the inheritance and gift tax from 15% to
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Cyprus adopts public CbC reporting
Cyprus has published the Companies (Amendment) (No. 5) Law of 2024 in the Official Gazette on 6 December 2024, implementing the public Country-by-Country (CbC) under Directive (EU) 2021/2101 which establishes a reporting threshold for companies with
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Poland: EU approves extension of VAT split payment system
The European Commission (EC) has published a proposal for a Council Implementing Decision on 14 January 2025, authorising Poland to extend its split payment system for VAT collection. After a period of a voluntary split payment system, Poland
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Azerbaijan, Latvia sign MOU on tax recovery assistance and information exchange
Azerbaijan's State Tax Service signed a memorandum of understanding (MOU) on 16 January 2025 with the State Revenue Service of Latvia to enhance cooperation in information exchange and tax recovery efforts. The agreement aims to strengthen
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Greece: EU Council approves mandatory e-invoicing plan
The EU Commission has published a proposal for a Council Implementing Decision, on 13 January 2024, authorising Greece to introduce a special measure derogating from Articles 218 and 232 of Directive 2006/112/EC to be able to impose mandatory
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Hungary clarifies place of supply rules for online events
Hungary’s tax authority has published a summary of new place of supply rules for VAT for online events on 2 January 2025. The summary clarifies that the place of supply for services granting access to cultural, artistic, scientific,
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